Problems with my Bank at the Branch level

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kcowan
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Re: Problems with my Bank at the Branch level

Post by kcowan »

It was when the Canadian banks decided to charge me 2.5% for foreign transactions at the ATM that I realized they were not my friend, and that I had to make alternative arrangements. (Not doing cash transfers was just an aggravation!) That has led to me establishing a relationship with Intercam for cash and Chase Visa for credit card. They will get all my business for 6 months each year minimum. And probably more.

If my bank had not been so greedy, they would still have had all my business. It could have been an advantage to have one organization for all. And if they combined it with TDDI and other investments, they would realize the total loss of business that they have incurred. I no longer have any loyalty.

(I spent many years dealing with banks as a supplier, first Canada Trust and then all the Canadian Banks. Many of my former employees now work there. I see it as a shame to see them kiss off their best clients.)
For the fun of it...Keith
SQRT
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Re: Problems with my Bank at the Branch level

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kcowan wrote:
I see it as a shame to see them kiss off their best clients.)
Keith, it is indeed a shame your experience has been so poor. Keep in mind though that your experience may not be the norm. If it was I think we would be seeing measurable volume declines at the big banks. Anyway, that's no excuse, sorry.
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Bylo Selhi
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Re: Problems with my Bank at the Branch level

Post by Bylo Selhi »

kcowan wrote:It was when the Canadian banks decided to charge me 2.5% for foreign transactions at the ATM that I realized they were not my friend, and that I had to make alternative arrangements...
Keep in mind that most people are either ignorant of that 2.5% vig or simply don't care because it's "only" 2.5%—just as with conventional mutual funds. The banks realize they're going to lose some business because of people like us who do notice and do care and are willing to look for alternatives. But [with apologies to Rick Blaine] it doesn't take much to see that "only" 2.5% on other sheeples' money amounts to a lot more than a hill of beans in this crazy world...
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kcowan
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Re: Problems with my Bank at the Branch level

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I should add that I believe if Ed Clark knew how bad things have become, something would change. And I don't hold anyone responsible. That is part of the problem. No one is responsible.

(Several of my workmates took their golden handshake buyout and went to work for the banks. All the banks are very similar.)
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kcowan
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Re: Problems with my Bank at the Branch level

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SQRT wrote:
kcowan wrote:I have discovered 3 serious problems with the TD Visa Aeroplan card:
1. The transaction log lacks both transaction date and posted date
2. FX transactions do not show Foreign amount and rate used in the description field in the log (except in monthly statements)
3. TD does not support disabling the Paywave functionality on its cards.

It is amazing to me that a Big Five bank could continue to exist with such poor functionality. Item 2 would have cause me serious trouble. Fortunately it was the very last CIBC transaction in June.
Have to agree with you on this if it is indeed the case.
I have discovered that the promised automatic transition of all Pre-Approved Payments from CIBC are not working. Rather than us getting to all the vendors on June 16th, the payments are being rejected and late payment fees issued. They had promised a transition period to Sept 30th.

Here is a summary of the many problems.
It is clear that this is a colossal FUBAR.
For the fun of it...Keith
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Bylo Selhi
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Re: Problems with my Bank at the Branch level

Post by Bylo Selhi »

<SARCASM>
Hopefully you'll get this e-mail and instead of deleting it as spam, you'll take the time to read through TD's lack of apologies to the bitter end where they value your inconvenience at a loyalty-inducing 2,000 AP miles, i.e. 8% of a domestic flight, not including all the extra fees they can slip in on top. YMMV. Bon voyage!
Subject: Important message about your TD Aeroplan Credit Card

IMPORTANT INFORMATION ABOUT PRE‑AUTHORIZED PAYMENTS

Dear ....,

To ensure you continue to earn Aeroplan Miles on your purchases made with your new replacement TD® Aeroplan® Credit Card—even Pre‑Authorized Payments—please take a moment to read this important information and reminder.

Important Information about Pre‑Authorized Payments

TD is experiencing an issue with Pre‑Authorized Payments (PAPs) on the transitioned credit card accounts. Some of these payments are being processed and paid without interruption, while others are not.

TD is actively working with merchants to correct this and allow payments to be processed as planned. There are Cardholders who have been contacted by a merchant informing them that a PAP has been declined and requesting updated credit card information. If you have been affected by this, we apologize for the inconvenience this has caused.

If you are contacted by a merchant and informed your PAP cannot be processed, please go ahead and provide your replacement TD Aeroplan Credit Card number. For your security, it's a good idea to ask for some information that identifies the merchant before providing your account information.

Reset your Pre‑Authorized Payments

Please contact your merchants as soon as possible to confirm your PAPs are being processed correctly or to reset them.

Have your TD Aeroplan Credit Card number handy and call your merchant's toll‑free number. Be sure to also have some information that will identify you to the merchant—such as an account number, membership ID or policy number—before you call. You may also consider visiting a merchant's website; some merchants offer an online option to update credit card information.

If you have a number of PAPs to reset and would like assistance, TD offers a free Pre‑Authorized Payment service that can look after providing most merchants with your replacement TD Aeroplan Credit Card information. Visit tdcanadatrust.com/preauthorizedpayments for more information.

Thank you for your patience. Enjoy 2,000 Aeroplan Miles

We know resetting PAPs is an inconvenience. Please accept a special 2,000 Aeroplan Miles* — as thanks to you for your patience and effort during this process. To register to receive your miles, simply visit aeroplan.com/PAP by September 30, 2014 and enter your Aeroplan Membership Number. The miles will be credited to your Aeroplan Account approximately 10 business days after you have completed registration.

We look forward to serving you in the future.
</SARCASM>
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SQRT
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Re: Problems with my Bank at the Branch level

Post by SQRT »

Ah, the pre authorized payment switch promise. We knew it wouldn't work so we did all the changes ourselves. Sorry but to even think it could work surprises me. Two banks working together, ya right. Sorry guys but I thought you would have known that. Still no excuse, awful.
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